Does limited attention among investors affect stock returns? We compare the response to earnings announcements on Friday, when investor inattention is more likely, to the response on other weekdays. If inattention influences stock prices, we should observe less immediate response and more drift for Friday announcements. Indeed, Friday announcements have a 15% lower immediate response and a 70% ...

All three papers deal with important policy issues. Ruhm, whose analysis ranges the most widely, goes furthest in recommending policy activism. Podgursky and Swaim (P&S) are somewhat more re strained, but it is clear that they too favor special assistance for displaced workers. In our own paper we see advantage in workers being given notification of their impending redundancy in the specific co...

Using a large longitudinal data set, we study the effects of increased trade on earnings and mobility in the Swedish labor market in the late 1980s and early 1990s. Earnings respond significantly to changes in industry sales, whether generated by domestic market forces or international trade: Swedish exports (imports) raise (lower) annual earnings, but changes in trade affect earnings just as a...

Unlike prior research that focuses on determinants of firm-specific stock price crashes (SPCs), we study the consequences SPCs market information efficiency. The tension underlying our question stems from two competing explanations. As an unanticipated shock, a SPC could stimulate (distort) efficiency by triggering investor rational attention (opinion divergence). Our identification strategy in...

the study objects for investigating the possibility of activating both audit committee and board of directors for restricting the practices of earnings management phenomenon. to achieve this objective, a questionnaire had been developed and self-administered for a selected sample consists of 123 auditors working in jordan based on the simple random sampling method. the study first hypothesis is...

This paper examines whether and how individual auditors are disciplined for audit errors. Taking advantage of the long history auditor identity data from China, we find that signing with client restatements likely to lose privilege reports public clients. However, can avoid this consequence by issuing a modified opinion warn potential misstatement. We show more be when their firms operate in le...

The study aims to know the influence size of company from informative profit with management and earnings opacity intervening variable. Size be measured natural logarithm total assets. Informative proxied response coefficient. Management discretionary accruals. Meanwhile, is income smoothing. Population in i.e. manufacturers listed on Indonesia Stock Exchange for 2016-2020 period. Retrieval tec...

Married men's wage premium is often attributed to within-household specialization: men can devote more effort to wage-earning when their wives assume responsibility for household labor. We provide a comprehensive evaluation of the specialization hypothesis, arguing that, if specialization causes the male marriage premium, married women should experience wage losses. Furthermore, specialization ...